Job Family Card - Reinsurance / Retro Operations

Establish and maintains business relationships with reinsurance institutions. Ensure the organisation's insurance activities risks are properly covered with reinsurance agreements. Solicit best reinsurance service according to organisation's policies and procedures. Handle reinsurance new agreements, additions of new insurance policies to current reinsurance agreements and handles claims with the reinsurance institution. Manage reconciliations of reinsurance accounts.

Job Family Code

IRR

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Job Roles

Card Job Role Description

Job Role

Reinsurance/ Retro Operations Specialist

Job Family Code

IRR

Job Family

Reinsurance / Retro Operations

Responsibilities

    Analyse the organisation's reinsurance requirements and collect relevant information to identify risk transfer solutions.

    Process the underwriters and risk management team requests for reinsurance and ensure new policies are added to the reinsurance treaty.

    Negotiate terms and conditions of reinsurance treaty (or facultative agreements) with the reinsurer.

    Responsible for maintenance of reinsurance policies in relevant systems.

    Track reinsurance invoices to ensure adherence to the budget.

Card Job Role Description

Job Role

Reinsurance/ Retro Operations Manager

Job Family Code

IRR

Job Family

Reinsurance / Retro Operations

Responsibilities

    Develop and implement appropriate written policies and procedures to allow effective management of reinsurance placements and administration, and reinsurance recoveries / assets.

    Oversee the reinsurance contracts negotiations and contract premium adjustments.

    Ensure proper calculation of reinsurance recoveries taking into consideration the organisation's risk appetite determining the amounts of risk to be ceded.

    Ensure that existing and planned reinsurance protections are consistently and appropriately considered within the business planning, exposure management, accounting and capital setting processes.

    Oversee the reinsurance processes and ensure reinsurance claims are followed up and repaid.

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